Israel Tel Aviv Court Forces Banks to Accept Bitcoin Sales Funds

Hapoalim, Israel’s largest bank, was forced by the Tel Aviv District Court to accept transfer of funds generated by Bitcoin sales. Earlier, one of the bank’s clients was refused to transfer $19,500 from the Bitcoin exchange market in Europe to his joint account.

The plaintiff’s defense lawyer stated that the Bank of Israel has been very much concerned with Bitcoin and other digital currencies recently and does not allow the conversion of digital currency related funds into the account. This case makes sense. It allows the bank to conduct a truly meaningful review of each transaction and no longer automatically rejects the funds involved in the digital currency conversion.